Insights

Why the Nuix (AX:NXL) share price is pushing higher today

The Nuix Ltd (ASX:NXL) share price is on the move today after the release of an update on its board…
The post Why the Nuix (AX:NXL) share price is pushing higher today appeared first on The Motley Fool Australia. –

The Nuix Ltd (ASX: NXL) share price has started the week in a positive fashion.

At the time of writing, the investigative analytics company’s shares are up 2% to $1.61.

Why is the Nuix share price rising?

Investors have been buying the company’s shares this morning following the release of a board update.

According to the release, Nuix is launching a number of initiatives in response to recent market feedback.

This includes the establishment of an Independent Board Sub-Committee. Nuix believes doing so will ensure the appropriate oversight and review of recent matters raised by market participants.

The release explains that the Independent Board Sub-Committee will comprise of independent directors Hon. Jeff Bleich, Sir Iain Lobban and Sue Thomas. They will work with external advisers and Nuix’s internal legal and risk management functions.

In addition to this, the company revealed that it intends to expand its Board composition from the current five members with the appointment of additional independent non-executive directors.

Nuix has appointed an international search firm to assist in the selection process. Criteria for the appointees will consider an objective to increase diversity and include a preference for Australian-based candidates with experience in relevant areas. This includes areas such as international business, technology, finance and accounting, governance, and risk management.

Chairman commentary

Nuix’s Chair, Jeff Bleich, commented: “The recent Nuix investor day showcased a truly great company with unique and world-class technology and people. In my address I made clear that the Board was listening to the feedback from our shareholders and the market. These initiatives are important building blocks to continue to strengthen corporate governance and achieve our performance objectives.”

“Nuix remains focused on delivering for its customers, maintaining a robust and vibrant corporate culture and achieving its potential. The Company continues to attract and maintain world-class talent and add to its already deep executive bench strength, including the recent hires of a number of senior executives into important client-facing roles,” he added.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

*Returns as of February 15th 2021

More reading

The week that’s been for the Nuix (ASX:NXL) share price
Nuix (ASX:NXL) share price slips 7% on looming legal action
Why Flight Centre, Iluka, Nuix, & Oil Search shares are tumbling lower

Which ASX 200 shares withstood today’s selloff?

ASX construction giants under fire over cost blowouts, lack of competition

The post Why the Nuix (AX:NXL) share price is pushing higher today appeared first on The Motley Fool Australia.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!